Weatherford to sell $500 million 7.25-year bullet in Tuesday drive-by

By Paul A. Harris

Portland, Ore., Nov. 15 – Weatherford International Ltd. plans to price a $500 million offering of non-callable 7.25-year senior notes on Tuesday trailing a mid-morning conference call with investors, according to an informed source.

Morgan Stanley & Co. LLC is the bookrunner for the Rule 144A and Regulation S with registration rights offering.

The Houston-based oilfield services company plans to use the proceeds to repay amounts outstanding under its revolving credit facility.

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